Wallace Advisory Group LLC Has $838,000 Stake in AT&T Inc. (NYSE:T)

Wallace Advisory Group LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,102 shares of the technology company’s stock after selling 827 shares during the period. Wallace Advisory Group LLC’s holdings in AT&T were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its stake in shares of AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC lifted its position in AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the period. Geode Capital Management LLC lifted its holdings in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of AT&T by 110.3% in the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after acquiring an additional 3,228,888 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of AT&T by 1,901.0% in the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock worth $60,518,000 after acquiring an additional 3,008,549 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Barclays boosted their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Price Performance

T opened at $21.56 on Tuesday. The firm has a market cap of $154.70 billion, a P/E ratio of 17.53, a PEG ratio of 3.60 and a beta of 0.59. The firm has a 50-day moving average of $22.81 and a 200 day moving average of $21.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, research analysts expect that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.